Northpointe Bancshares (NYSE:NPB) Hits New 12-Month High - Here's What Happened

Key Points

• Northpointe Bancshares shares recently reached a new 52-week high of $18.86, with a last trading price of $18.30.
• Analysts have a moderate buy rating on the stock, with an average target price of $18.25, and two analysts rating it as a Buy.
• The company declared a quarterly dividend of $0.025 per share, yielding 0.5% annually, paid on August 4th.

Shares of Northpointe Bancshares, Inc. (NYSE:NPB - Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as $18.86 and last traded at $18.30, with a volume of 23151 shares trading hands. The stock had previously closed at $18.54.

Analyst Ratings Changes

A number of brokerages recently commented on NPB. Piper Sandler lifted their price objective on Northpointe Bancshares from $16.50 to $17.50 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Janney Montgomery Scott began coverage on Northpointe Bancshares in a report on Thursday, August 28th. They issued a "neutral" rating and a $19.25 target price on the stock. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.25.

Northpointe Bancshares Trading Down 0.3%

The stock has a 50 day moving average price of $16.40 and a 200-day moving average price of $14.63. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.32 and a current ratio of 1.39.

Northpointe Bancshares (NYSE:NPB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $0.51 EPS for the quarter, hitting analysts' consensus estimates of $0.51. The company had revenue of $58.96 million during the quarter, compared to the consensus estimate of $56.92 million.

Northpointe Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 4th. Shareholders of record on Tuesday, July 15th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, July 15th.

Insider Activity

In related news, Director David Stevens Hooker sold 65,161 shares of Northpointe Bancshares stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $18.21, for a total value of $1,186,581.81. Following the completion of the sale, the director owned 834,879 shares in the company, valued at approximately $15,203,146.59. This trade represents a 7.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 18.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Northpointe Bancshares

A number of large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. bought a new position in shares of Northpointe Bancshares in the 1st quarter worth about $829,000. Jacobs Asset Management LLC bought a new stake in Northpointe Bancshares during the 1st quarter worth approximately $8,998,000. EJF Capital LLC acquired a new stake in shares of Northpointe Bancshares in the 1st quarter valued at approximately $3,739,000. Boston Partners acquired a new stake in shares of Northpointe Bancshares during the first quarter worth $454,000. Finally, Wellington Management Group LLP bought a new position in Northpointe Bancshares in the first quarter valued at about $47,534,000.

Northpointe Bancshares Company Profile

Northpointe Bancshares, Inc operates as a bank holding company. It offers a nationwide mortgage purchase program, residential mortgage loans, digital deposit banking to retail customers and custodial deposit services. The company was founded by Charles A. Williams in 1998 and is headquartered in Grand Rapids, MI.